VEGAS 1Hr Tunnel Fibs & MT4 Help please... | Forex Factory

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VEGAS 1Hr Tunnel Fibs & MT4 Help please...

  • #1
  • First Post: Jul 27, 2006 8:26pm Jul 27, 2006 8:26pm
I am having trouble with how to insert the recommended Fib #'s into my MT4 trading platform... can someone be so kind as to walk me throught it please? I attempted to use the Fibannaci->Retracements indicator inside MT4 and once it comes up on the chart I click/select it and then select the "Properties" to replace the values in "Fibo Levels" with the Vegas values (i.e., 13, 21, 34, 55, 89, 144, 233, 377). What am I doing wrong please? should I be placing decimals somewhere on these number or what?

Also, I have one other question; once price shots through and violates the tunnel is that sufficient to satisfy the buy/sell signal or should I be waiting for the lagging 12-EMA to violate the Tunnel before executing the trade?

Thanks much!
  • #2
  • Jul 28, 2006 8:10am Jul 28, 2006 8:10am
Try moving the decimal point left 2 places
ie. 13 = .13
If you open the fib ret properties box and go to fib levels tab it shows you the description and value.

Hope that helps

Lyndon
  • #3
  • Jul 28, 2006 9:04am Jul 28, 2006 9:04am
In this thread are postd the various Vegas MT4 indicators - Post #9
http://www.forexfactory.com/forexfor...ead.php?t=6170
ou will have to add the 12MA on the hourly...

Eastmaels created a great instructon set for installing MT4 indicators at:
http://www.forexfactory.com/forexfor...ead.php?t=4497

Good Trading
In trading, there is no bullshit. You either make money or you don't.
  • #4
  • Jul 28, 2006 12:46pm Jul 28, 2006 12:46pm
I haven't tried the vegas 1Hr tunnel but hopefully, this is what you're looking for.

Here's the walkthrough.

1) First, you'll have to insert the Moving Average that constitutes the tunnel (refer to "Insert MA.GIF")
2) Then, specify the MA period. (Refer to "MA Period.GIF")
3) Then add the the price levels you want to be distant from the middle MA. (Refer to "MA Levels.GIF").

After doing this, refer to my next post for the resulting chart image.
Attached Images
  • #5
  • Jul 28, 2006 12:47pm Jul 28, 2006 12:47pm
Here's the resulting chart if you followed the above processes correctly.
Sorry if my instructions are quite confusing.. But hopefully the images would speak for themselves..

Hope this helps.
East
Attached Image
  • #6
  • Jul 28, 2006 8:44pm Jul 28, 2006 8:44pm
Hi All.... I really appreciate all of those who have responded but I remain confused regarding how to view the Fib levels on the MT4 1 hour (or any time-frame) chart. I have attached a pic of the way that I thought it should look but I am completely confused.

Thanks!
Attached File(s)
File Type: doc Doc4.doc   73 KB | 1,068 downloads
  • #7
  • Jul 29, 2006 12:36am Jul 29, 2006 12:36am
Quoting its2die4
Hi All.... I really appreciate all of those who have responded but I remain confused regarding how to view the Fib levels on the MT4 1 hour (or any time-frame) chart. I have attached a pic of the way that I thought it should look but I am completely confused.

Thanks!
The "Fib levels" referred to in the vegas 1 Hr tunnel doc is NOT EQUIVALENT to "Fib retracement levels" that are available in MT4.

The "Fib levels" are the number of pips from a certain point of reference.

Based on my understanding of the the 1 Hr tunnel, the point of reference you can use are:
1) the 144 & 169 EMAs, or
2) the median price of the two MAs.

So for example, the current values of the MAs (USD/JPY) are:
MA (144) = 116.48
MA (169) = 116.40

You can set your initial take profit upon entry by calculating the price from the :
a) upper boundary of the tunnel (if you go LONG).

In the above example, the upper boundary (of the tunnel) would be 116.48.
Computing for the initial TP when you go long:
Take Profit = 116.48 + 55 pips = 117.03

b) median of the two MAs
116.48 - 116.40 = 0.08
0.08/2 = 0.04
The median price then would be: 116.44

Take Profit = 116.44 + 55 pips = 116.99

Hope this helps.

East
Attached Image
  • #8
  • Jul 29, 2006 12:39am Jul 29, 2006 12:39am
Finally, clarity!!! Thank you!!!!



Quoting eastmaels
The "Fib levels" referred to in the vegas 1 Hr tunnel doc is NOT EQUIVALENT to "Fib retracement levels" that are available in MT4.

The "Fib levels" are the number of pips from a certain point of reference.

Based on my understanding of the the 1 Hr tunnel, the point of reference you can use are:
1) the 144 & 169 EMAs, or
2) the median price of the two MAs.

So for example, the current values of the MAs (USD/JPY) are:
MA (144) = 116.48
MA (169) = 116.40

You can set your initial take profit upon entry by calculating the price from the :
a) upper boundary of the tunnel (if you go LONG).

In the above example, the upper boundary (of the tunnel) would be 116.48.
Computing for the initial TP when you go long:
Take Profit = 116.48 + 55 pips = 117.03

b) median of the two MAs
116.48 - 116.40 = 0.08
0.08/2 = 0.04
The median price then would be: 116.44

Take Profit = 116.44 + 55 pips = 116.99

Hope this helps.

East
  • #9
  • Jul 29, 2006 12:41am Jul 29, 2006 12:41am
Quoting its2die4
Finally, clarity!!! Thank you!!!!
Well, that was worth it.. Thanks..
  • #10
  • Aug 4, 2006 8:34am Aug 4, 2006 8:34am


I am not quite sure but i seem to have been having problems with the site in the last 24 hours.
i posted a question on the forum about coding the vegas 1hr indicator for Pro-real time charts which has gone missing/been removed, and I have had to change my password four times in the last 14hours.

Would somebody please tell me what/why this is?

de-tokzie
  • #11
  • Aug 4, 2006 8:41am Aug 4, 2006 8:41am
Quoting de-tokzie


I am not quite sure but i seem to have been having problems with the site in the last 24 hours.
i posted a question on the forum about coding the vegas 1hr indicator for Pro-real time charts which has gone missing/been removed, and I have had to change my password four times in the last 14hours.

Would somebody please tell me what/why this is?

de-tokzie
The site had some technical problems and was undergoing some data retrieval during the last 24 hours I guess.

I'm still not sure if everything ok right now but it seems that things are back to normal right now. But we still need to receive merlin's ok signal to be sure..
  • #12
  • Last Post: Aug 4, 2006 9:58am Aug 4, 2006 9:58am


Thanks for that.
As there was no warning, one was unaware of scheduled activities...
Appreciate the effort

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